Ethereum Classic investment analysis

ETC is the original ‘Ethereum’ blockchain and it came off as a result of the fork from its own network creating a new version due to a disagreement that ensued from the members of the community who wanted to recover the stolen funds from the DAO project.

Members who wanted the fork became the new Ethereum while those who were opposed to it stayed on the former network and are now referred to as the proponents of the Classic.

ETC investment has been on for a while now, over 5 years. And based on its original design it was intended to be able to develop decentralized applications just as the more common version – ETH does.

With the popularity and the more frequent usage of Ethereum as we know it now, most people (especially the noobs) find it hard to believe that it’s a fork from Classic alternate – the original network.

How to buy ETC?

Surprisingly, you would expect that with the fork, there should be an ultimate extinction of the coin, especially when you consider how well the counterpart is doing. But it has about 90 cumulative trade markets on over 20 different exchanges. Quite a popular coin and this comes as no surprise as early cryptocurrency adopters who knew about the origin of Ethereum still have quite a share in the original network.

You can actually buy ETC in very simple steps and storing them isn’t hard at all, as there are many wallets available on the internet that provide storage services on their wallets, from mobile to web, exchange wallets or hardware wallets, the choice is yours to pick which is the most convenient way of storing your digital asset.

But before you buy, ensure that you have the trading pair available, could be ETH, BTC, USDT, or even FIAT.

Is it safe to invest in ETC now?

As far as performance is concerned, the ‘Classic’ alt may not be doing as well as the counterpart ETH, but in my own opinion (not to be taken as investment advice), it still holds some juice in it.

The fundamental and intricate values of the original concepts, such as immutability; and while in scaling and added functionalities, it may not be on par with its counterpart, there are some valuable aspects to the development of the project:

There are a different set of developers and community supporters who would want to see the project succeed and while they have a competition to keep them on track, anything is possible to make the project outstanding again. Now, this is just speculation, but if we have learned anything from the crypto world so far, it’s that speculations and surprises are opposite sides of the same coin.

So if you are intending to use this asset as an interim investment vehicle, you do well, there are still quite a number of people who still believe in the project and are still trading in it.

If by some blockchain providence, this asset gains traction in adoption, it may well be far more extensively valuated, although this is a far cry, as it doesn’t receive updates from the Ethereum alliance and the majority of the founding developers switched to the new network. Even Vitalik Buterin is in support of the later version.

The hard fork that led to the creation of the new blockchain might be its undoing, and if the damage is extensive enough, it might make people return to the original network.

Finally, not much should be expected in terms of growth in the short term, as the development team is trying to maintain relevance in the community. Besides, they want to create a long-term value for the decentralized world at the expense of price valuation.

As for the community support, they still have about 192,000 twitter followers and about 6,000 followers on Facebook.

In conclusion, to invest in ETC is either a poor to a very high optimistic investment approach. Not that you can’t make decent profits from trading, but most people would rather rely on pump and dump or a huge breakthrough in ETC development to really rival Ethereum as it is.

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Comments (1)

If there is one fundamental premise of any innovation, it is providing new better parts when an old path no longer serves and the Bitcoin and several similar blockchain innovations are proposing new paths. From the very word classic, which is something which is becoming obsolete and only fancied for its glory days. My argument is, the first Ethereum blockchain had problems and a fix was proposed, period people should adapt to the new and leave the old. However, that doesn’t mean you shouldn’t invest. I am only spilling some part of my thought. Moreover, ETH is worth ten times as much as Ethereum-classic.

All cryptocurrency profit forecasts provided on the website are predicted based on the data obtained from the analysis algorithm and are published for informational purposes only. This information should not be used for any financial decisions. Always seek the help of a trusted financial advisor before committing to any investment and never invest money you cannot afford to lose.